USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
Stock market: Apple is vulnerable
SELL 178.60; TP 171.00; SL 180.50
There’s a way to bet on the increase in trade tensions between the United States and China that goes beyond the currency market. This way is to sell the stock of Apple Inc. as China is a big market for Apple, and the firm may be one of the main victims if China retaliates against American companies.
As you can see from the chart, its price is in a downfall since the end of April. The decline has erased 50% of gains made earlier this year.
Last week the stock closed below the 100-week MA (179.00). The decline below 50% Fibo at 178.60 will open the way down for a decline towards 170.30 (61.8% Fibo).
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
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